... Chapter 7/ Consumers, Producers, and the Efficiency of Markets 1 17. Total surplus in a market is the total area undera. the demand curve and above the price.b. the demand curve and above the ... Mike and Sandyc. Mike, Sandy, and Jonathand. Mike, Sandy, Jonathan, and HaleyANSWER: c. Mike, Sandy, and JonathanTYPE: M SECTION: 1 DIFFICULTY: 2 Chapter 7/ Consumers, Producers, and the Efficiency ... 2 Chapter 7/ Consumers, Producers, and the Efficiency of Markets 203 97. Producer surplus measures the a. well-being of society as a whole.b. well-being of sellers.c. well-being of buyers and...